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Article: Antares Pharma Receives Milestone Payment and Additional Patent Related to Elestrin[R].
- Article from:
- Business Wire
- Article date:
- January 6, 2009
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EWING, N.J. -- Antares Pharma, Inc. (AMEX:AIS) announced that the company received a milestone payment of $450,000 from BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) related to an agreement with AZUR Pharma for the marketing of Elestrin (estradiol gel) to treat moderate to severe hot flashes in menopausal women in the United States. BioSante received $3.325 million on signing with AZUR, of which approximately $1.5 million was purchased inventory. Antares is entitled to 25 percent of any upfront and milestone payments as well as a percentage of product royalties. AZUR has agreed to market Elestrin using its women's health and urology sales force of approximately 50 sales ...